Vietnam: A bitter pill for property developers

Many property developers feel as if they were in the hot water these days as the property market has reached the freezing point characterized by sluggish sales and an exodus from secondary investors. The situation is being further aggravated now that the pressure is piling up on developers as they do not know how and where to find enough funds to continue their projects as the Government’s credit tightening policy comes to a deadline.
As told by the central State Bank of Vietnam, credit institutions have to squeeze tighter the faucet of financial source for real estate sector, and all will have to limit credits for non-manufacturing sectors to less than 22% of the total by June 30 and 16% by late this year………………………………………Full Article: Source